Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Heidelberg Pharma AG is a clinical-stage biopharmaceutical company specializing in oncology, developing innovative antibody-drug conjugates (ADCs) for targeted cancer therapies. Its primary focus is on creating novel drugs that combine the specificity of antibodies with potent toxins to deliver cytotoxic payloads directly to cancer cells, addressing both hematologic and solid tumors. The company pioneered the use of Amanitin, a toxin derived from the green death cap mushroom, in its proprietary ATAC technology, which targets RNA Polymerase II to overcome therapy resistance and eliminate dormant tumor cells. Notable candidates include HDP-101, a BCMA-ATAC in clinical development for multiple myeloma, and HDP-201, an exatecan-based ADC utilizing a topoisomerase I inhibitor. Headquartered in Ladenburg, Germany, with around 105-122 employees, Heidelberg Pharma AG maintains a robust pipeline across preclinical to Phase III stages and offers contract research services. Founded in 1997, it plays a key role in advancing precision oncology through its ADC toolbox and partnerships.
The business is unprofitable at the operating level (-3227.99% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 78.7% YoY. Margins deteriorated 2892.8pp alongside, both lines moving the wrong way.
ROIC dropped from -42.08% to -238.67%, capital efficiency is deteriorating. Negative free cash flow of -€32M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€3M
▼ -78.7% YoY
Net Income (TTM)
-€41M
▼ -118.1% YoY
Op. Margin
-1389.39%
▼ -2892.8pp YoY
ROIC
-238.67%
▼ -196.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€29M
▼ -5.6% YoY
Op. Cash Flow (TTM)
-€28M
▼ -7.4% YoY
Net Debt
-€15M
Net Cash Position
Cash & Equiv.
€15M
3Y CAGR: -57.1%
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